ISLAMABAD – Careem, the region’s leading internet platform, has launchedmobile recharge payment services within the Careem PAY wallet across Egyptand Pakistan, with UAE and Jordan to follow soon.
Careem entered the payments space with a closed loop peer-to-peer transfersin November 2018 as part of a broader, ambitious payment strategy. TheCareem PAY wallet is the most downloaded wallet in the Middle East regionand one in three rides booked by Careem customers are paid for via theCareem PAY wallet.
As Careem moves towards its super app strategy, payments capabilities willbe a critical enabler to offering multiple products and services and beinghost to third partie[d1] s. With only 14% of the MENA population banked,Careem is pursuing the digital payments opportunity of addressing this gapwith a digital wallet and in the future, financial services.
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Managing Director of Careem PAY, Junaid Iqbal said: *“Careem’s paymentofferings will be core to becoming the region’s every day super app. Ourwallet is the most downloaded digital wallet in the market and we willcontinue to add more products and services that can be paid for through ourplatform. With only 14% of the region holding a bank account, there is amassive opportunity for us to serve this unaddressed audience and enablethem to participate in digital finance. Providing the option to purchasemobile recharge credit is the beginning of many more ways in which we aimto simplify and improve our customers’ lives.”*
